Attached files
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EXCEL - IDEA: XBRL DOCUMENT - Xtraplan, Inc. | Financial_Report.xls |
EX-31 - Xtraplan, Inc. | exhibit311.htm |
EX-32 - Xtraplan, Inc. | exhibit322.htm |
EX-32 - Xtraplan, Inc. | exhibit321.htm |
EX-31 - Xtraplan, Inc. | exhibit312.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2012
[] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________ to ______________
XTRAPLAN, INC.
(Exact name of registrant as specified in its charter)
Nevada | 000-51094 | 13-4067620 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) | ||
| 2499 Glade Road, Suite 313 Boca Raton, Florida 33431 | |||
| (Address of principal executive offices) | |||
Registrants telephone number, including area code: (954) 865-8407 |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. [X] Yes [ ] No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). [X] Yes [ ] No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act.
Large accelerated filer [ ] | Accelerated filer [ ] |
Non-accelerated filer [ ] (Do not check if a smaller reporting company) | Smaller reporting company [ X ] |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). [ ] Yes [X] No
As of August 12, 2012, the Company had 2,342,600 shares issued and outstanding.
1
PART I-FINANCIAL INFORMATION
ITEM 1.
FINANCIAL STATEMENTS.
The financial statements of Xtraplan, Inc (formerly Derby Resources, Inc., the "Company"), a Nevada corporation, included herein were prepared, without audit, pursuant to rules and regulations of the Securities and Exchange Commission. Because certain information and notes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America were condensed or omitted pursuant to such rules and regulations, these financial statements should be read in conjunction with the financial statements and notes thereto included in the audited financial statements of the Company in the Company's Form 10-K for the fiscal year ended December 31, 2011.
XTRAPLAN, INC.
(A DEVELOPMENT STAGE COMPANY)
FINANCIAL STATEMENTS
PERIOD ENDED JUNE 30, 2012
INDEX TO FINANCIAL STATEMENTS: | Page |
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Balance Sheet | 3 |
Statement of Operations | 4 |
Statement of Stockholders Equity/Deficit Statement of Cash Flows | 5 7 |
Notes to Unaudited Financial Statements | 8 |
2
Xtraplan, Inc. | |||||||
(f/k/a Derby Resources, Inc.) | |||||||
(A Development Stage Company) | |||||||
BALANCE SHEET | |||||||
June 30, 2012 and December 31, 2011 | |||||||
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| Unaudited | Audited |
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| 6/30/2012 | 12/31/11 |
ASSETS |
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CURRENT ASSETS |
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Cash |
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| $ - | $ - |
Prepaid Expenses |
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| - | 1,000 |
TOTAL ASSETS |
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| - | 1,000 |
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LIABILITIES AND STOCKHOLDERS' DEFICIT |
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CURRENT LIABILITIES |
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Accrued Liabilities |
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| 5,300 | 4,300 |
Payable to Stockholder |
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| 65,983 | 65,114 |
TOTAL CURRENT LIABILITIES |
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| 71,283 | 69,414 |
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STOCKHOLDERS' DEFICIT |
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Preferred Stock: Par value $.01; 5,000,000 |
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shares authorized; no shares issued |
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and outstanding |
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| - | - |
Common Stock: Par value $.001; 50,000,000 shares |
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authorized; 2,342,600 shares issued and outstanding |
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| 2,343 | 2,343 | ||
Additional paid in capital |
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| 2,760 | 2,760 |
Deficit accumulated during the development stage |
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| (76,386) | (73,517) | ||
TOTAL STOCKHOLDERS' DEFICIT |
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| (71,283) | (68,414) | |
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TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
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| $ - | $ 1,000 | ||
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The accompanying notes are an integral part of these financial statements. | |||||||
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3
Xtraplan, Inc. | |||||||||
(f/k/a Derby Resources, Inc.) | |||||||||
(A Development Stage Company) | |||||||||
STATEMENT OF OPERATIONS | |||||||||
For the Period June 4, 1999 (inception) through June 30, 2012 | |||||||||
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| Cumulative |
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| Amount from |
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| June 4, 1999 |
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| For the Three Months Ended | For the Six Months Ended | through | ||
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| 6/30/12 | 06/30/11 | 6/30/12 | 06/30/11 | 6/30/12 |
REVENUES |
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Sales |
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| $ - | $ - | $ - | $ - | $ - |
Cost of Sales |
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| - | - | - | - | - |
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Gross Profit |
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OPERATING EXPENSES |
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Administrative and General |
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| 1,000 | 868 | 2,869 | 2,123 | 76,440 |
TOTAL OPERATING EXPENSES |
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| 1,000 | 868 | 2,869 | 2,123 | 76,440 | |
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LOSS FROM OPERATIONS |
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| (1,000) | (868) | (2,869) | (2,123) | (76,440) |
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OTHER INCOME |
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Interest Income |
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| - | - | - | - | 54 |
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TOTAL OTHER INCOME |
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| - | - | - | - | 54 |
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NET OPERATING INCOME (LOSS) BEFORE INCOME TAXES |
| (1,000) | (868) | (2,869) | (2,123) | (76,386) | |||
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PROVISION FOR INCOME TAXES |
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| - | - | - | - | - |
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NET INCOME (LOSS) |
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| $ (1,000) | $ (868) | $ (2,869) | $ (2,123) | $ (76,386) |
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BASIC AND DILUTED NET LOSS PER SHARE |
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WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING |
| 2,342,600 | 2,342,600 | 2,342,600 | 2,342,600 |
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** Less than $.01 |
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The accompanying notes are an integral part of these financial statements. |
4
Xtraplan, Inc. | |||||||
(f/k/a Derby Resources, Inc.) | |||||||
(A Development Stage Company) | |||||||
STATEMENT OF STOCKHOLDERS' EQUITY/(DEFICIT) | |||||||
For the Period June 4, 1999 (inception) through June 30, 2012 | |||||||
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| Common Stock | Additional | Retained |
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Par Value of $0.001 |
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| Amount | Capital | (Deficit) | Total |
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Balance at June 4, 1999 (date of inception) |
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| $ - | $ - | $ - | $ - |
Common stock issued for cash |
| 689,700 |
| 690 | 2,760 | - | 3,450 |
Net loss for the period |
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| - | - | (2,745) | (2,745) |
Balance December 31, 1999 |
| 689,700 |
| 690 | 2,760 | (2,745) | 705 |
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Common stock issued for cash |
| - |
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Net loss for the year |
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| - | - | (2,052) | (2,052) |
Balance December 31, 2000 |
| 689,700 |
| 690 | 2,760 | (4,797) | (1,347) |
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Common stock issued for cash |
| 360,000 |
| 360 | - | - | 360 |
Net loss for the year |
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| - | - | (2,061) | (2,061) |
Balance December 31, 2001 |
| 1,049,700 |
| 1,050 | 2,760 | (6,858) | (3,048) |
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Common stock issued for cash |
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Net loss for the year |
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| - | - | (215) | (215) |
Balance December 31, 2002 |
| 1,049,700 |
| 1,050 | 2,760 | (7,073) | (3,263) |
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Net loss for the year |
| - |
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Balance December 31, 2003 |
| 1,049,700 |
| 1,050 | 2,760 | (7,073) | (3,263) |
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Common stock issued for debt |
| 1,292,900 |
| 1,293 | - | - | 1,293 |
Net loss for the year |
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| - | - | (6,500) | (6,500) |
Balance December 31, 2004 |
| 2,342,600 |
| 2,343 | 2,760 | (13,573) | (8,470) |
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Net loss for the year |
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| - | - | (18,847) | (18,847) |
Balance December 31, 2005 |
| 2,342,600 |
| 2,343 | 2,760 | (32,420) | (27,317) |
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Net loss for the year |
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| - | - | (4,931) | (4,931) |
Balance December 31, 2006 |
| 2,342,600 |
| 2,343 | 2,760 | (37,351) | (32,248) |
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Net loss for the year |
| - |
| - | - | (4,210) | (4,210) |
Balance December 31, 2007 |
| 2,342,600 |
| 2,343 | 2,760 | (41,561) | (36,458) |
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5
Net loss for the year |
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| - | - | (2,021) | (2,021) |
Balance December 31, 2008 |
| 2,342,600 |
| 2,343 | 2,760 | (43,582) | (38,479) |
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Net loss for the year |
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| - | - | (13,498) | (13,498) |
Balance December 31, 2009 |
| 2,342,600 |
| 2,343 | 2,760 | (57,080) | (51,977) |
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Net loss for the year |
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| - | - | (7,903) | (7,903) |
Balance December 31, 2010 |
| 2,342,600 |
| 2,343 | 2,760 | (64,983) | (59,880) |
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Net loss for the year |
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| - | - | (8,534) | (8,534) |
Balance December 31, 2011 |
| 2,342,600 |
| 2,343 | 2,760 | (73,517) | (68,414) |
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Net loss for the period |
| - |
| - | - | (2,869) | (2,869) |
Balance June 30, 2012 |
| 2,342,600 |
| 2,343 | 2,760 | (76,386) | (71,283) |
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The accompanying notes are an integral part of these financial statements. |
6
Xtraplan, Inc. | |||||||
(f/k/a Derby Resources, Inc.) | |||||||
(A Development Stage Company) | |||||||
STATEMENT OF CASH FLOWS | |||||||
For the Period June 4, 1999 (inception) through June 30, 2012 | |||||||
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| Cumulative |
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| Amount from |
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| June 4, 1999 |
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| For the Six Months Ended | through | |
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| 6/30/12 | 06/30/11 | 6/30/12 |
CASH FLOWS FROM OPERATING ACTIVITIES |
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Net Income (Loss) |
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| $ (2,869) | $ (2,123) | $ (76,386) |
Adjustments to reconcile net loss to net |
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cash used in operations: |
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Common stock issued for services |
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Changes in operating liabilities and assets |
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Prepaid expenses |
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| 1,000 | - | - |
Accrued liabilities |
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| 1,000 | (1,700) | 5,300 |
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NET CASH USED IN OPERATING ACTIVITIES |
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| (869) | (3,823) | (71,086) | ||
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CASH FLOWS FROM FINANCING ACTIVITIES |
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Increase payable to stockholder |
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| 869 | 3,823 | 65,983 |
Issuance of common stock for debt |
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| - | - | 1,293 | |
Issuance of common stock for cash |
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| - | - | 3,810 | |
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NET CASH PROVIDED BY FINANCING ACTIVITIES |
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| 869 | 3,823 | 71,086 | ||
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NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | - | - | - | ||||
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CASH AND CASH EQUIVALENTS |
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Beginning of Period |
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End of Period |
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| $ - | $ - | $ - |
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SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
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Cash paid for interest |
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| $ - | $ - | $ - |
Cash paid for income taxes |
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| $ - | $ - | $ - |
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The accompanying notes are an integral part of these financial statements. |
7
XTRAPLAN, INC. (F/K/A DERBY RESOURCES, INC.)
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
From Inception (June 4, 1999) through June 30, 2012
NOTE 1 ORGANIZATION
Xtraplan, Inc. (f/k/a Derby Resources, Inc.) (the "Company") is currently a development stage company under the provisions of Accounting Standards Codification (ASC) 915 Development Stage Entities, and was incorporated under the laws of the State of Nevada on June 4, 1999. The Company has a December 31 year-end.
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation - Development Stage Company
The Company has not earned any revenue from operations. Accordingly, the Company's activities have been accounted for as those of a "Development Stage Enterprise" as set forth in FASB ASC 915 Development Stage Entities. Among the disclosures required by FASB ASC 915 are that the Company's financial statements be identified as those of a development stage company, and that the statements of operations, stockholders' equity/(deficit) and cash flows disclose activity since the date of the Company's inception.
The accompanying unaudited interim financial statements have been prepared in accordance with Form 10-Q instructions and, in the opinion of management, include all normal adjustments considered necessary to present fairly the financial position as of June 30, 2012 and the results of operations for the three and six months ended June 30, 2012 and the period from inception (June 4, 1999) through June 30, 2012. The results have been determined on the basis of generally accepted accounting principles and practices and applied consistently with those used in the preparation of the Company's financial statements and notes for the year ended December 31, 2011, as filed on Form 10-K.
Certain information and footnote disclosures normally included in the financial statements presented in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that the accompanying unaudited interim financial statements be read in conjunction with the financial statements and notes thereto contained in the Company's 2011 Annual Report on Form 10-K. Our results for the three and six months ended June 30, 2012 may not be indicative of our results for the twelve months ended December 31, 2012.
Recently Issued Accounting Pronouncements
The company has adopted all recently issued accounting pronouncements. The adoption of the accounting pronouncements, including those not yet effective, is not anticipated to have a material effect on the financial position or results of operations of the Company.
8
XTRAPLAN, INC. (F/K/A DERBY RESOURCES, INC.)
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
From Inception (June 4, 1999) through June 30, 2012
NOTE 3 GOING CONCERN
The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not established any source of revenue to cover its operating costs. The Company will engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders.
NOTE 4 RELATED PARTY TRANSACTIONS
A shareholder of the Company has paid expenses on behalf of the Company in exchange for a payable bearing no interest and due on demand. Total amount of expenses paid during the six months ended June 30, 2012 was $869. The balance payable to the shareholder at June 30, 2012 and December 31, 2011 were $65,983 and $65,114, respectively.
The Company does not lease or rent any property. Office space and services are provided without charge by an officer/shareholder. Such costs are immaterial to the financial statements and, accordingly, have not been reflected therein. The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.
NOTE 5 SUBSEQUENT EVENTS
On August 2, 2012, the Articles of Incorporation of the Registrant were amended to change its name from Derby Resources, Inc. to Xtraplan, Inc.
In accordance with ASC 855-10 Company management reviewed all material events through the date and time the financial statements were issued for potential disclosure in the accompanying financial statements. Other than the above, we did not identify any events or transactions that should be recognized or disclosed in the accompanying financial statements.
9
ITEM 2.
MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
SPECIAL NOTE OF CAUTION REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN STATEMENTS IN THIS REPORT, INCLUDING STATEMENTS IN THE FOLLOWING DISCUSSION, ARE WHAT ARE KNOWN AS "FORWARD LOOKING STATEMENTS", WHICH ARE BASICALLY STATEMENTS ABOUT THE FUTURE. FOR THAT REASON, THESE STATEMENTS INVOLVE RISK AND UNCERTAINTY SINCE NO ONE CAN ACCURATELY PREDICT THE FUTURE. WORDS SUCH AS "PLANS," "INTENDS," "WILL," "HOPES," "SEEKS," "ANTICIPATES," "EXPECTS "AND THE LIKE OFTEN IDENTIFY SUCH FORWARD LOOKING STATEMENTS, BUT ARE NOT THE ONLY INDICATION THAT A STATEMENT IS A FORWARD LOOKING STATEMENT. SUCH FORWARD LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING OUR PLANS AND OBJECTIVES WITH RESPECT TO THE PRESENT AND FUTURE OPERATIONS OF THE COMPANY, AND STATEMENTS WHICH EXPRESS OR IMPLY THAT SUCH PRESENT AND FUTURE OPERATIONS WILL OR MAY PRODUCE REVENUES, INCOME OR PROFITS. NUMEROUS FACTORS AND FUTURE EVENTS COULD CAUSE THE COMPANY TO CHANGE SUCH PLANS AND OBJECTIVES OR FAIL TO SUCCESSFULLY IMPLEMENT SUCH PLANS OR ACHIEVE SUCH OBJECTIVES, OR CAUSE SUCH PRESENT AND FUTURE OPERATIONS TO FAIL TO PRODUCE REVENUES, INCOME OR PROFITS. THEREFORE, THE READER IS ADVISED THAT THE FOLLOWING DISCUSSION SHOULD BE CONSIDERED IN LIGHT OF THE DISCUSSION OF RISKS AND OTHER FACTORS CONTAINED IN THIS REPORT ON FORM 10-Q AND IN THE COMPANY'S OTHER FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. NO STATEMENTS CONTAINED IN THE FOLLOWING DISCUSSION SHOULD BE CONSTRUED AS A GUARANTEE OR ASSURANCE OF FUTURE PERFORMANCE OR FUTURE RESULTS.
Overview and Recent Developments
The Registrant was incorporated under the laws of the State of Nevada on June 4, 1999, under the name Derby Resources, Inc., and changed its name to Xtraplan, Inc., on July 31, 2012. As of June 30, 2012, and during the period ended June 30, 2012, the Company was a "shell" company with no or nominal operations and no or nominal assets. From the date of incorporation through June 30, 2012, the Companys business plan was to identify, evaluate and investigate various companies with the intent that, if such investigation warrants, to negotiate and complete a business acquisition transaction pursuant to which there would be a change of control of the Company, and the Company would acquire a business opportunity or acquire a target company with an operating business, with the intent of continuing the acquired company's business as a publicly held entity.
The Company expects to continue efforts to locate a suitable business acquisition candidate and thereafter to complete a business acquisition transaction. As long as the Company remains a shell company, it anticipates continuing to incur losses for future reporting periods as a result of expenses associated with compliance with the reporting requirements of the Securities Exchange Act of 1934, and expenses associated with locating and evaluating acquisition candidates. The Company does not expect to generate revenues until it completes a business acquisition transaction, and, depending upon the performance of the acquired business, it may also continue to operate at a loss after completion of a business acquisition transaction.
The Company will require additional capital in order to pay the costs associated with carrying out its plan of operations and the costs of compliance with its continuing reporting obligations under the Securities Exchange Act of 1934 as amended. This additional capital will be required whether or not the Company is able to complete a business acquisition transaction during the current fiscal year. Furthermore, once a business acquisition transaction is completed, the Companys needs for additional financing are likely to increase
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substantially.
No specific commitments to provide additional funds have been made by management or other stockholders, and the Company has no current plans, proposals, arrangements or understandings to raise additional capital through the sale or issuance of additional securities prior to the location of a merger or acquisition candidate. Accordingly, there can be no assurance that any additional funds will be available to the Company to allow it to cover its expenses. Notwithstanding the foregoing, however, to the extent that additional funds are required, the Company anticipates that it will either continue to rely on its majority shareholders to pay expenses on its behalf, or it will seek to raise capital through the private placement of restricted securities. The majority shareholders are under no obligation to pay such expenses. If the Company is unable to raise additional funds, it will not be able to pursue its business plan. In addition, in order to minimize the amount of additional cash which is required in order to carry out its business plan, the Company might seek to compensate certain service providers by issuances of stock in lieu of cash.
Liquidity and Capital Resources
As of June 30, 2012, the Company remained in the development stage. As of June 30, 2012, the Companys balance sheet reflected total assets of $nil and total current liabilities of $71,283. The Company has cash on hand of $nil and a deficit accumulated in the development stage of $76,386.
The Company does not have sufficient assets or capital resources to pay its on-going expenses while it is seeking out business opportunities, and it has no current plans to raise additional capital through the sale of securities. As a result, although the Company has no agreement in place with its shareholders or other persons to pay expenses on its behalf, it is anticipated that the Company will continue to rely on its majority shareholders to pay expenses on its behalf at least until it is able to consummate a business transaction. The majority shareholders are under no obligation to pay such expenses.
Off Balance Sheet Arrangements
The Company does not have any off-balance sheet arrangements.
Subsequent Events
As reported in a Current Report on Form 8-K dated July 1, 2012, there was a change of control of the Registrant on July 1, 2012. On that date, Kuba Farbiarz, as agent for a group of 17 individuals and entities (Buyer), purchased a total of 2,225,470 shares of common stock of the Registrant, representing approximately 95% of the Registrants issued and outstanding common stock. Mr. Farbiarz acquired ownership of 855,090 of such shares, which represents approximately 36.5% of the issued and outstanding common stock of the Registrant. He is the only member of the Buyer group who owns more than 5% of the Registrants issued and outstanding common stock.
In conjunction with the share purchase transaction, the former officers and directors of the Registrant resigned, and new officers and directors were appointed. Mr. Farbiarz was appointed as a director and as CEO of the Registrant, and Mr. Hermen Cruz was appointed as a director and as CFO of the Registrant.
On August 8, 2012, the Registrant changed its name to Xtraplan, Inc., in order to align the companys name with business activities commenced on July 1, 2012 following the change of control. The business operations will consist of services provided to small businesses, including an
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eCommerce website, a customer loyalty program and emarketing services, and services provided to consumers, including an online shopping mall, member referral program and member rewards.
ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
Not Applicable.
ITEM 4.
CONTROLS AND PROCEDURES.
Disclosure Controls and Procedures
The Securities and Exchange Commission defines the term disclosure controls and procedures to mean the company's controls and other procedures of an issuer that are designed to ensure that information required to be disclosed in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commissions rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Securities Exchange Act of 1934 is accumulated and communicated to the issuers management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. The Company maintains such a system of controls and procedures in an effort to ensure that all information which it is required to disclose in the reports it files under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified under the SEC's rules and forms and that information required to be disclosed is accumulated and communicated to principal executive and principal financial officers to allow timely decisions regarding disclosure.
As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are designed to provide reasonable assurance of achieving the objectives of timely alerting them to material information required to be included in our periodic SEC reports and of ensuring that such information is recorded, processed, summarized and reported within the time periods specified. Our chief executive officer and chief financial officer also concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report to provide reasonable assurance of the achievement of these objectives.
Changes in Internal Control over Financial Reporting
There was no change in the Company's internal control over financial reporting during the Companys fiscal quarter ended June 30, 2012 that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.
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PART II-OTHER INFORMATION
ITEM 1.
LEGAL PROCEEDINGS.
The Company is not a party to any pending legal proceedings, and no such proceedings are known to be contemplated. No director, officer or affiliate of the Company, and no owner of record or beneficial owner of more than 5.0% of the securities of the Company, or any associate of any such director, officer or security holder is a party adverse to the Company or has a material interest adverse to the Company in reference to pending litigation.
ITEM 1A.
RISK FACTORS.
Not Applicable.
ITEM 2.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
None.
ITEM 3.
DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM 4.
MINE SAFETY AND DISCLOSURES.
Not Applicable.
ITEM 5.
OTHER INFORMATION.
None.
ITEM 6.
EXHIBITS.
(a)
The following exhibits are filed herewith:
31.1
Certifications pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2
Certifications pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1
Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2
Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101
INS XBRL Instance Document
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101
SCH XBRL Schema Document.
101
CAL XBRL Taxonomy Extension Calculation Linkbase Document.
101
LAB XBRL Taxonomy Extension Label Linkbase Document.
101
PRE XBRL Taxonomy Extension Presentation Linkbase Document.
101
DEF XBRL Taxonomy Extension Definition Linkbase Document.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
XTRAPLAN, INC.
By: /S/ Kuba Farbiarz
Kuba Farbiarz, Chief Executive Officer
Date: August 20, 2012
By:
/s/ Hermen Cruz
Hermen Cruz, Chief Financial Officer
Date: August 20, 2012
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